Nuvectis Pharma (NASDAQ:NVCT) Earns Buy Rating from Analysts at Laidlaw

Research analysts at Laidlaw began coverage on shares of Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a "buy" rating and a $19.00 price target on the stock. Laidlaw's price target suggests a potential upside of 108.91% from the stock's current price.

Separately, HC Wainwright dropped their price target on Nuvectis Pharma from $21.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th.

Nuvectis Pharma Price Performance

Shares of NVCT stock traded down $0.35 during mid-day trading on Monday, hitting $9.10. The company had a trading volume of 148,947 shares, compared to its average volume of 116,264. The stock's 50 day moving average price is $6.84 and its 200-day moving average price is $6.47. Nuvectis Pharma has a 52-week low of $4.44 and a 52-week high of $11.80. The company has a market capitalization of $212.75 million, a P/E ratio of -7.81 and a beta of 0.23.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.08). On average, equities research analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current year.

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Insider Activity at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri acquired 240,000 shares of the firm's stock in a transaction on Friday, February 7th. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $1,200,000.00. Following the completion of the transaction, the insider now directly owns 2,884,121 shares in the company, valued at approximately $14,420,605. This trade represents a 9.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 35.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvectis Pharma

Several institutional investors have recently modified their holdings of NVCT. Baldwin Wealth Partners LLC MA raised its holdings in Nuvectis Pharma by 104.4% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 355,961 shares of the company's stock valued at $1,926,000 after buying an additional 181,831 shares during the period. Marshall Wace LLP lifted its holdings in shares of Nuvectis Pharma by 191.0% in the 4th quarter. Marshall Wace LLP now owns 124,571 shares of the company's stock worth $674,000 after acquiring an additional 81,757 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Nuvectis Pharma by 49.8% during the 3rd quarter. Geode Capital Management LLC now owns 79,716 shares of the company's stock worth $501,000 after purchasing an additional 26,489 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Nuvectis Pharma during the 4th quarter worth about $135,000. Finally, Squarepoint Ops LLC bought a new position in Nuvectis Pharma during the 4th quarter valued at about $103,000. 96.77% of the stock is owned by institutional investors.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.